What Red River Bancshares, Inc. told the SEC could break it.

Red River Bancshares is almost entirely concentrated in Louisiana: as of December 31, 2025, 94.4% of its loans held-for-investment were made to borrowers who reside or conduct business in Louisiana, substantially all of its real estate loans are secured by Louisiana properties, and all 28 of its banking centers are in the state; if population, employment or income growth in its Louisiana markets is negative or slower than projected — or a regional downturn, hurricane or natural disaster occurs — its income, deposits, real-estate values and loan quality would be disproportionately affected.

“As of December 31, 2025, 94.4% of loans HFI were made to borrowers who reside or conduct business in Louisiana, and substantially all of our real estate loans are secured by properties located in Louisiana.”

Red River Bancshares is exposed to energy-commodity cycles through its loan book: volatility in oil and natural gas prices and cyclical downturns in the energy industry — particularly important in Louisiana — could lead to increased credit losses; it had $27.7 million of direct energy loans (1.2% of loans HFI) at December 31, 2025 and also has indirect exposure to energy prices through borrowers and local economies tied to the energy sector, so a sustained drop in oil & gas prices could weaken its asset quality.

“Volatility in oil and natural gas prices along with cyclical downturns in the energy industry, particularly in Louisiana, could lead to increased credit losses in our loan portfolio. As of December 31, 2025, we had energy loans of $27.7 million, or 1.2% of loans HFI.”

Red River Bancshares relies on third parties for key components of its business infrastructure — data processing, internet connections, network access and core processing — and may rely on AI models developed by third parties; if these providers fail to perform, suffer financial difficulty, are negligent or breached, or if a third-party software license/service agreement is terminated, its operations could be interrupted and it could face data loss, fines, increased compliance costs and reputational harm, and third-party AI models could produce incorrect or biased output.

“We rely on third parties to provide key components of our business infrastructure, and a failure of these parties to perform for any reason could disrupt our operations. Third parties provide key components of our business infrastructure such as data processing, internet connections, network access, co”

As a bank holding company, Red River Bancshares is subject to extensive and evolving banking regulation: changes resulting from further implementation of, changes to, or repeal of the Dodd-Frank Act and other regulations may impact the profitability of its business activities, require changes to certain business practices, and impose more stringent requirements; it also depends on its ability to generate deposits and manage liquidity, and could face enforcement actions or regulatory consequences in periods of financial stress.

“Changes resulting from further implementation of, changes to, or repeal of the Dodd-Frank Act and other regulations may impact the profitability of our business activities; require changes to certain of our business practices; impose upon us more”